Tuition & Financial Aid
Tuition for 2009-10
Financial AidBB&N is proud of our long history of helping families make an independent school education possible for their children. Through our policies and practices our goal is to try to enroll talented and motivated students regardless of their family’s ability to afford a BB&N education. After all, financial aid enriches the experience of every single member of the BB&N community. Financial aid allows us to create a community of learners from many different backgrounds, who will test each other’s assumptions, cultivate each other’s strengths, and open each other's remarkable young minds. Nearly a quarter of our students receive need-based aid, which places us above the average for schools that are members of the National Association of Independent Schools (NAIS). And we are continually working to increase our financial aid resources. When applying for financial aid, please be sure to complete all forms and meet all deadlines. For more information about Financial Aid at BB&N, please see the detailed FAQ below. If you have additional questions about financial aid, please contact: Kimberley Bastian Director of Financial Aid 617-800-2188 kim_bastian@bbns.org Frequently Asked QuestionsWhat is financial aid?Financial aid is a decrease of tuition costs, formulated on the basis of need. Although sometimes referred to as “grant” or “scholarship”, BB&N does not award “merit scholarships” (i.e. a monetary award based on either academic or extracurricular merit). All students who receive aid have families that qualify according to the School and Student Services for Financial Aid. Who can apply? Anyone may apply for financial aid. There is no income ceiling or minimum. For the 2009-10 academic year, BB&N awarded $5.3 million in financial aid to 235 students. All awards were based on demonstrated need. How do I apply? Fill out the Financial Aid Application and submit the requested materials by the deadlines indicated below. If your child is an applicant for admission
We encourage all families who feel they need financial aid to apply. While the admission and financial aid processes are separate, there are times when budget constraints lead to "need aware" admission decisions. How are the financial decisions made? Financial aid is awarded based on a family’s demonstrated need, as determined by a collaboration between the School and Student Service for Financial Aid, or SSS (see link in sidebar at right) and BB&N’s financial aid committee. Calculations are based primarily on:
If my child is admitted but not awarded aid, might we receive aid the following year? It is very unlikely. We aid as many students as we feel we can continue to support through their years at BB&N. Our first obligation is to our currently enrolled students. There is little chance that a student enrolling without aid would be awarded aid in any subsequent year, without significant changes in that family’s financial circumstances. If we are offered aid and decide to enroll at BB&N, can we expect approximately the same level of aid in future years? Yes, provided your financial situation does not change. Because financial aid decisions are reviewed each year, families receiving aid must, each year, submit information (the PFS and the 1040) establishing need for the next academic year. Must I reapply for aid next year? Yes. You will need to submit your Parents' Financial Statement and income tax return. What payment plans are available? All families may also take advantage of payment plans through either TuitionPay, which is administered by Sallie Mae or Key Education Resources. Both allow families to pay tuition in smaller, manageable monthly installments. Parents may also apply for the AchieverLoan or the K-12 Family Education Loan. Both are low interest-loans available to families enrolled in independent schools. (Links to all of these payment plans are found in the sidebar at right.) What if I am a single parent? BB&N requires complete financial information from both the custodial and non-custodial parents, including the Parents’ Financial Statement form and tax forms. This information is collected in an attempt to determine the ability, not the willingness, of each parent to financially support their child’s education. If the whereabouts of the non-custodial parent are unknown, a good-faith effort must be made to locate him or her. In most cases, a letter from a third-party (such as a teacher or minister) will be required to verify that the noncustodial parent has no contact with the applicant. What if I am self-employed? Parents who are self-employed, or who own a business or farm should submit the Business/Farm Statement directly to BB&N and include their business taxes with their income tax. What if I have more than one child applying to BB&N? One set of forms is sufficient, even if your children are applying to different grades in the school. Is financial aid available for supplemental costs? BB&N makes every attempt to give each student access to the opportunities the School offers. A Book Grant is applied to most Middle and Upper School Financial Aid packages to help defer the cost of books. Additionally, financial aid is available for activities such as the Foreign Language Department’s spring break trips, summer opportunities, academic support, and class field trips and events. Students apply through the Financial Aid Office and are awarded up to the percentage of funding they receive for tuition. In addition, we have a program that grants computers to Upper and Middle School students who meet certain financial criteria. These supplemented grants are all subject to the availability of funding. |